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Piper Jaffray analyst Jason Deleeuw expects shares of American Express to rally today given the accelerated Q1 revenue growth, "better-than-feared" provision expense and 2018 outlook raise. The year-over-year comparisons get more difficult going forward, but American Express has strong momentum across its business, Deleeuw tells investors in a post-earnings research note. However, the analyst believes the stock's valuation fairly reflects his expectation for a low-teens earnings growth profile with potential upside limited by higher provisioning expense and a competitive card environment. He lowered his price target for the shares to $116 from $122 and keeps a Neutral rating on American Express.

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AXPAmerican Express

$95.16

1.29 (1.37%)

04/05/18

04/05/18INITIATION

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Spotify (SPOT) initiated with a Buy at Canaccord and Stifel. 2. Trade Desk (TTD) initiated with an Overweight at Piper Jaffray. 3. Saul Centers (BFS) initiated with a Neutral at B. Riley FBR. 4. Capital One (COF) and American Express (AXP) were initiated with a Buy at Citi while Discover (DFS) and Synchrony (SYF) were initiated with a Neutral. 5. Intel (INTC) initiated with a Buy at UBS while Qualcomm (QCOM) was initiated with a Neutral. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

04/05/18

SBSH

04/05/18INITIATIONTarget $110SBSHBuy

American Express initiated with a Buy at Citi

Citi analyst Jill Shea started American Express with a Buy rating and $110 price target. "Strong billings momentum should drive strong earnings growth," Shea tells investors in a research note.

03/27/18

UBSW

03/27/18INITIATIONUBSWBuy

American Express initiated with a Buy at UBS

UBS analyst Eric Wasserstrom initiated American Express with a Buy rating and $111 price target. Wasserstrom sees American Express accelerating discount volumes and loan growth, which "will support EPS growth and stable profitability at a high level." He also believes the company will resume "significant" share repurchases by mid-2018.

03/13/18

OPCO

03/13/18NO CHANGETarget $117OPCOOutperform

American Express' LT business model 'hitting on all cylinders,' says Oppenheimer

Oppenheimer analyst Ben Chittenden reiterated his Outperform rating on American Express and has a $117 price target following last week's investor day. American Express has a strong brand that is building out its client touch points and a positive tailwind from tax reform which is driving corporate travel and expense, Chittenden told investors in a research note. He also pointed out that the biggest takeaway from the investor day "wasn't necessarily some updated guidance that one can plug into an earnings model," but that the company's long-term business model is "hitting on all cylinders," with a more confident tone regarding competition and its go-forward strategy. "It's a work in progress, but we continue to like the AXP story," the analyst said.